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China's Ninebot Acquires US Electric Vehicle Maker Segway.

MANews-(C)2009-2015

15 April 2015 - Chinese short-distance transportation products developer Ninebot Ltd. has acquired US-based rival Segway Inc, the companies said on Wednesday.

Terms of the deal were not disclosed.

The combined company will focus on research and development, manufacturing, sales and service in the short-distance transportation industry, with the goal of promoting the rapid development of that industry and leading the revolution of mobile robotics solutions.

Both Ninebot and Segway will continue to operate under their existing brand names. Segway had previously accused Ninebot of infringing its patents.

Ninebot is a private company registered in the Cayman Islands and is headquartered in Beijing, China. Its business focuses on research and development, manufacturing and sales of short-distance transportation products.

Its main investors include Sequoia Capital, Xiaomi Technology and ShunWei TMT Capital. Ninebot is a well-known brand in Asia and Europe and is a company in the short-distance transportation industry.

Segway based in Bedford, New Hampshire, USA, is a provider of personal electric transportation.

Its international network currently includes more than 250 distributor, dealer and experience center retail points in 80 countries.

Country: USA

Sector: Motor Vehicles

Target: Segway Inc

Buyer: Ninebot Ltd

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Apr 15, 2015
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